Repayment Mortgage Decision Reference 2022-0119

• Case Outcome: Rejected
• Reference: 2022-0119
• Date: 06 April 2022
• Year: 2022
• Subject Matter: Repayment Mortgage
• Finantial Sector: Banking
• Conducts Complained Of: Failure to provide calculations,Delayed or inadequate communication, Dissatisfaction with customer service , Failure to offer appropriate compensation or redress CBI Examination, Failure to process instructions, Failure to process instructions in a time

Decision Ref:

2022-0119

Sector:

Banking

Product / Service:

Repayment Mortgage

Conduct(s) complained of:

Failure to provide calculations

Delayed or inadequate communication

Dissatisfaction with customer service

Fees & charges applied

Failure to process instructions in a timely manner

Failure to provide product/service information

Failure to process instructions

Failure to offer appropriate compensation or

redress CBI Examination

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns expenses arising from the Provider’s delay in approving the

Complainants’ mortgage.

The Complainants’ Case

The Complainants applied for a mortgage with the Provider in January 2018 to fund the

construction of a new house. The Complainants submit that delays arose during the

application process, and the mortgage was not approved until June 2018.

The Complainants say that, as a result of this delay, they had to live in rented

accommodation for a longer period. They note that the costs of construction rose during

the period of delay, and they rely on the opinion of a quantity surveyor in this regard.

The quantity surveyor’s letter, dated 30 August 2019, states that building costs had

increased due to inflation by 11% “since January 2018”. The surveyor did not state the end

date of this calculation, but noted that there had been further increases during 2019. He

concluded that the construction cost for the Complainants had risen by €22,000 (twenty-

two thousand Euro). The Complainants say that they incurred an additional fee in engaging

the services of this surveyor to substantiate their claim.